Depression comprises multiple mental health challenges characterized by the absence of positivity, which leads to feelings such as misery, sadness, and anxiety. Such feelings are normal only if they exist for a short period of time and it becomes a serious condition when the individual feels lost, angry, frustrated, and gloomy very frequently. Although prevalence of depression has gone up in the last decade, demand for depression drugs has witnessed a decline, as other forms of therapies, notably cognitive behavior therapy (CBT) has gained popularity.
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According to a study by the National Institute of Mental Health, over 10 Mn adults in the U.S. suffered from at least one depressive episode with severe results in 2016. The same study captured that the prevalence of depression is higher among female adults with 8.5% of cases as compared to 4.8% male adults.
Increase in the geriatric population and chronic diseases have been the crucial drivers for the growth of depression drugs market. With the rise in the health consciousness among the consumers, side-effects of the depression drugs are recognized and advanced technologies for the development of drugs with lesser side-effects are being used. However, the inclination of the consumers towards non-pharmacological therapies like CBT and meditation is likely to beset the growth of the global depression drugs market.
US Continues to Push Demand for Depression Drugs
North America constitutes the largest share of the global depression drugs market, given the high concentration of established market players, which are focusing on enhancing the efficiency of these drugs. In addition, a rise in the awareness pertaining to the depression disorders created by mental healthcare organizations is expected to drive the growth of the market in this region. However, with increasing awareness pertaining to the health threats posed by the side-effects of the depression drugs, the consumers are gradually favoring non-clinical treatments over these drugs, which is anticipated to challenge the growth of the global market.
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Following the trends of North America, Europe accounts for the second largest share of the depression drugs market, which can be attributed to the proliferated research and development activities to rethink the efficiency of depression drugs in this region.
Side Effects and Vulnerability to Addiction Create Reluctance among Patients
According to the study, depression drugs lose their efficacy after a few months or years since the brain becomes less responsive to such drugs. As a result, the normal brain functions begin to hamper. Symptoms such as blurred vision, vivid dreams, insomnia, fatigue, dizziness, and loss of coordination are observed by the patients who discontinue the intake of the drugs. These after-effects caused by these drugs are anticipated to limit the growth of the global depression drugs market.
Global Depression Drugs Market – Competitive Matrix
According to the report, the significant players operating in the depression drugs market comprise of Johnson and Johnson, Sebela Pharmaceutical Inc., Takeda Pharmaceutical Company Ltd., GlaxoSmithKline, Novartis AG, Allergan USA Inc., AstraZeneca, Pfizer Inc., Eli Lilly and Company, Otsuka Pharmaceutical Co., Ltd., Alkermes Plc, Bristol Myers Squibb Co., H. Lundbeck, and Teva Pharmaceutical Industries Ltd., among others.
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These leading players of the depression drugs market are adopting sustainable growth strategies to diversify their product portfolio, sustain their position in the global market, intensify their customer base, and garner share in the global depression drugs market.
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